Las Vegas Lures 40.8M Visitors in 2023, Best Mark Since 2019

Las Vegas bustled inward 2023, as more than 40.8 one thousand thousand people traveled to Southern Nevada.

The 2023 visitation figure represented a 5.2% year-over-year increment and the city’s topper stain since pre-pandemic 2019 when the gambling casino town drew 42.5 meg visitors. Convention attending soared 20% to about six million visitors.

The all-time in high spirits for yearly visitors came in 2016 when 42.9 jillion people ventured to Las Vegas.

Calling 2023 “an epic year,” Steve Hill, the CEO of the Las Vegas Convention and Visitors Authority (LVCVA), said the yield of major conventions paired with premiere events same the maiden Formula One Las Vegas Grand Prix powered the visitor haul.

Las Vegas will go down in time another one-year gaming revenue enter when Dec and full-year 2023 results are revealed this calendar week past the Silver State Gaming Control Board.

Through 11 months, statewide revenue gaming revenue (GGR) was o'er $14 one million million — just shy of the $14.84 one million million commonwealth casinos won in 2022. Kenneth Clark County, home to Las Vegas and the Strip, won most $12.8 1000000000000 inward 2022.

Record Room Rates

Business travelers and well-to-do visitors who came for F1 and other major events such as NFL football allowed Strip casinos to substantially step-up their hotel elbow room rates.

The city’s 154,662 guestrooms went for an middling nightly rate of $191.29. That represents a nearly 12% upsurge on 2022 and readiness a unexampled range record. Strip rooms averaged over $204 a night — also a young high.

Revenue per usable way — a valuate of room profitability — jumped almost 19% on the Strip to $176. Citywide way RevPAR climbed 18% to $160.

Las Vegas rooms were occupied 79% of the time — 4% higher than the previous year. Weekend occupancy climbed 1.4% to 90.7%, patch midweek benefited from the take back of conventions. Midweek tenancy was upward almost 6% to 80.3%.

Harry Thomas Reid International Airport will shortly unveil its Dec and full-year rider traffic numbers. Las Vegas’ main airport was exceedingly fussy endure year.

Through November, the aerodrome served over 52.8 billion arriving and departing passengers, a 9.4% year-over-year improvement. International traffic soared 28%, while domestic travelling climbed almost 9%.

2024 Headwinds

Unemployment remains low-pitched and the inventory marketplace continues to enrichen savings accounts, but in that location are concerns virtually consumer spending in the yr ahead. Inflation and course credit card debt are deuce paramount issues veneer consumer liquidity and the boilers suit health of the US economy.

While the Las Vegas Strip and downtown casinos rely primarily on visitors for their gaming and holiday resort business, locals casinos inwards Kenneth Clark County cater to residents. And those residents are facing higher rents and mortgages, as Southern Nevada remains a preferred terminus for Californians to relocate to.

Nevadans are also veneer some of the highest grocery costs inward the nation. HelpAdvisor, an online imagination dedicated to assisting consumers in receiving federal and nation benefits, reports that NV has the second-highest be of groceries slow only when California.

The mediocre household inwards NV spends around $298 a week on groceries. That’s nigh $40 higher than the subject average. Badger State is rest home to the cheapest groceries at $221 a week.

HelpAdvisor calculated its groceries cost based on the Household Pulse Survey conducted past the US Census Bureau.